Bitcoin Forum

www.BitcoinBetting.website is a multiplayer gambling game, standing on a very simple question - What would be the last digit of the block hash that includes your transaction? Players guess last digit of the block hash and bet on that. Sum of all incorrect bets get distributed among correct bets in the same ratio of bet amount. House takes 1% from sum of all bets before distribution.


Frequently Asked Questions :-

1. I have sent bitcoin to the generated address, but it is not showing up. Why?
Do not worry. If it does not show up immediately, it'll be there as soon as it gets a confirmation.

2. My transaction is now confirmed. But, it is still showing as unconfirmed. Why?
We confirm a transaction once it receives 2 confirmations.

3. Can I generate multiple addresses and send bitcoins to them in a single transaction?
Yes. You can.

4. Is there any minimum amount of bitcoin that is to be sent?
Yes. You must send at least 0.0005 BTC. Anything below will be considered as donation.

5. Why is 0.0002 BTC missing from the bet amount I sent?
A transaction processing fee of 0.0002 BTC is deducted from each bet.

6. Can I send multiple transactions to a single address?
No. Only the first transaction received by the generated address will be considered as bet and all further transactions will be considered as donation.

7. What happens if everyone has lost in a block?
Everyone gets back their bet amount in that block.

8. What happens if everyone has won in a block?
Everyone gets back their bet amount in that block.


Please try this new game and post your feedback below. Feel free to ask any question and provide any suggestion for improvement.

Interesting idea. I guess, this is the first game which directly relies on bitcoin blockchain's randomness. Love the neat site design. Will try once a few bets are placed. :)

Following on from the other thread, why not add different odds on different options:

Like in Roulette you could have letter or number (obviously the number would have to have smaller odds than the letter bet).

Or you could have an option to bet on it being an odd number, or an even number.

Group some letters together, ab, cd etc.

And if you wanted you could do the results of the last few, like 'hot numbers' in roulette.

Well... someone has to start playing.::)

Great set of suggestions. But, I think, most of them can be implemented only when we have player vs house game. For now, it is player vs player. Hence, the odds must be same for all the players. You still can place bets on grouped digits like ab, cd etc.

The thing is, no one will start playing until they see others playing, and they need to see a bunch of people playing for it to be close to an EV of 0. Otherwise, if only 2 people play, it is extremely -EV for the player. 1/16 chance to win double your amount if only one person playing is very very bad. You should consider making it player vs house, so more people would bet and not be worried that the game is too unfair to them.

Every gambling site is -ev to begin with and this is nothing new in the gambling industry.

@OP : on chain betting is yesterday and you should just make a version of the off chain betting in another domain. On chain betting is not suitable for dust betting so it discourage people who likes to bet on dust amount to play at your site. Besides that, sooner or later transaction fees will increase depending on the numbers of transaction in the future so it is not a good prospect in the future

This is very helpful. It answers pretty much everything I can think of in a clear and concise way. Good job helping the new members. If you ever feel like contributing again please do so. We need members like you around so keep it up. Having these questions answered from the start can save a lot of time and worth and in fact there one or two I only knew about after a month or two when I was still new.

This is kind of a cool idea and I like the concept, but I have to be honest, the website address is terrible.  It need to be something unique and catchy.  bitcoinbetting.website is really lame.

i wanna try betting but unfortunately there is no bet even one in the site currently and i dont want my money to come back minus 20k satoshi as transaction fee. anyone here interested to play win me?

You should definitely wager some yourself first, OP. That way people will be more willing to join in for a round and it will get things started. Its a pretty neat and simpke idea, could become quite popular

Me. I am sending from a to f. U chose something else. ;)

Thanks, yeah that's true. I think though that you're going to get more people playing if you have Player vs house at the beginning - but yeah the issues with adding P vs. H from the off may be too great for now.

Ok. I am no one :)

https://blockchain.info/tx/7cc177cb6ae8a4cd37bc6b18eb8f3313a949f5e8d52ac0e03bffab3cdbf3db30

At worst case, I may lose 6*0.0002 BTC, i.e. 0.0012 BTC, i.e. ~0.54 USD. No big deal. ;D

Yes, every bitcoin gambling site is -EV. I never said that it wasn't, just that it was very -EV for the player if only a few people played with the same amount. If player A bets 1 bitcoin, and player B bets 1 bitcoin, both would have a 1/16 chance to win. If they win, they get a profit of 0.99 BTC. A 1.99 multiplier, for a 1/16 chance. If you go to a dice site, you can get a 1/2 chance to win. Both are -EV, but the dice site is less. This site could be +EV for some players though, as if they are the only person betting on an outcome, they could bet a tiny amount and win a lot.

You seems to be a little mistaken here. It seems one user can bet on all the options at a time, i.e. in a single transaction. The number of options, user chooses, depends on the user. That way, this game is in fact offering more flexibility than a dice game.

Are u crazy? bitcoinbetting.website is a premium domain. All the combinations of .com, .net, .org with bitcoinbetting are long gone. Even if his site does not work, OP can sell the domain itself at a premium cost.

This game can not be played off chain as the fundamental is randomness of the block hash that confirms an on chain bet transaction. I did basic research before creating this game. There is a segment of gamblers who likes to play games with no strings attached, i.e. prefers to play directly from their bitcoin wallet. There is also a section which prefers randomness from external sources, which is beyond the control of the site operator. This game meets both. There are already plenty of off chain dice, roulette, poker etc. I wanted to present something new to the community.

Nice to know that you found the FAQ to be helpful. Feel free to play a bit :)

Nice to know that you liked the concept. Feel free to play a bit :)

There seems to be a few bets on the site now. You may like to join the players and ask more people to play against you :)

Nice to know that you liked the idea. There seems to be a few bets on the site now as well. You may like to join the players and ask more people to play against you :)

Just checked that I have got my winning back...

https://blockchain.info/tx/fb6a5fc70b2b2762f65430fb658cc85f6b9f454af4e5f51dd77ab37f31a1f03c

Can confirm that the game is working.

Why do u say that an individual number will have smaller odd than a letter?

I mean that if you were to have a bet on if the last character was going to be either [letter] OR [number] then the odds would have to be different for each one. They would have to be different since there are 10 numbers from the 16 characters in total (5/8 chance) but then the remaining 6 are letters - 3/8 chance.

So in order to make it more attractive to bet on a letter you would have to have a better return as the chance of it being a letter is less probable at first glance. You may have anecdotal evidence to say, all the transactions I've seen are letters, but it might be worth getting the last 5,000 transactions or something and seeing what the probability from the data was. (If you're the house then you can tweak the odds as appropriate.)

Thank you everyone for your comments & suggestion. A Player vs House game has now been launched as well. I am locking this thread. Please continue discussion in this thread - https://bitcointalk.org/index.php?topic=1492457.0